SR Bancorp (NASDAQ:SRBK) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of SR Bancorp (NASDAQ:SRBK) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of SR Bancorp in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SR Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

SR Bancorp Trading Down 0.2%

NASDAQ:SRBK opened at $19.62 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.04. SR Bancorp has a one year low of $14.33 and a one year high of $20.95. The company has a market cap of $158.92 million, a PE ratio of 43.60 and a beta of 0.55. The firm has a 50-day moving average of $19.65 and a 200-day moving average of $18.68.

SR Bancorp (NASDAQ:SRBK) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $8.58 million during the quarter, compared to the consensus estimate of $8.60 million. SR Bancorp had a net margin of 6.47% and a return on equity of 1.61%.

SR Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. SR Bancorp’s payout ratio is 53.33%.

Hedge Funds Weigh In On SR Bancorp

Several institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC grew its stake in shares of SR Bancorp by 2.2% during the 2nd quarter. Ancora Advisors LLC now owns 48,600 shares of the company’s stock worth $956,000 after acquiring an additional 1,050 shares during the period. BlackRock Inc. bought a new stake in SR Bancorp in the 2nd quarter valued at about $9,783,000. Deutsche Bank AG bought a new stake in SR Bancorp in the 2nd quarter valued at about $135,000. Bank of New York Mellon Corp purchased a new stake in SR Bancorp during the second quarter valued at about $427,000. Finally, Renaissance Technologies LLC lifted its holdings in SR Bancorp by 0.6% during the first quarter. Renaissance Technologies LLC now owns 180,300 shares of the company’s stock valued at $3,043,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 24.70% of the company’s stock.

SR Bancorp Company Profile

SR Bancorp, Inc is the holding company for Somerset Savings Bank, S.L.A., a community-oriented savings institution headquartered in Bound Brook, New Jersey. The bank serves individuals, families and businesses in communities primarily across central New Jersey.

Somerset Savings Bank provides deposit products, including checking, savings, money market and certificate of deposit accounts, along with residential mortgage loans, home equity financing, commercial real estate loans, business lending and consumer loans.